PUBLIC TELEVISION SERIES (Full Disclosure Network)
The Financial Crisis at LADWP
(click on image for a preview of the series)
Los Angeles, CA
Corporate turn-around executive H. Andrew Thornburg is featured in
new cable TV and Internet series on the Full Disclosure Network®
addressing the issue of a national energy disaster that he says is being
generated by politicians who are out of touch with reality. Thornburg
describes how the current fiscal crisis now raging in Los Angeles,
California and the nation is about to force elected officials and policy
makers to change policies or face bankruptcy.
This five minute video preview of the first segment in an on-going
series, focuses on the cause and effect of the Los Angeles Department of
Water and Power's proposed 28% rate hike and points out the failure of
past practices. He contends that unproven energy proposals to use solar
panels on all municipal buildings are an impending disaster. He
describes a widespread leadership failure to understand the basics
contributing to a national energy emergency.
The Truth About the Stimulus Plan - Can America
(click on image for a preview of the series)
Cap & trade
General Motors bankruptcy
Union labor leadership
Impact of Health Care Reform
with swaps and derivativesContinuing problems at F
The need to better
regulate the financial markets
This series consisting of nine eight-minute segments can be viewed on
fulldisclosure.net by clicking on the segment links below:
New Energy For America: Can wind and solar power mandates and one
million hybrid cars produce sufficient energy and jobs or will the results
produce inefficiency and economic ruin for Americans? Corporate turn-around
executive H. Andrew Thornburg compares the results of similar policies in
other countries and examines the logic of such proposals.
Cap & Trade legislation: Is seen as a “Tax, Penalize and Cut-back”
strategy proposed to reverse the over-reliance of coal fired power which
ironically resulted by the failure to produce the clean nuclear power plants
that were abundant but were subsequently out of public favor over the past thirty
years. Thornburg compares energy sources of the 70% diesel, 90% nuclear
powered France to the U.S.’s 1% diesel and 20% nuclear power.
General Motors, Banking Regulators & Labor Unions: What happens when
private lenders are forced to take less (cram down) when banks taking TARP
funds must capitulate to government regulators? Citibank and Bank of America
are more beholden to government dictates in bank policy results in
shareholder losses. Thornburg describes why he believes that General Motors
will fail within ten years due to labor union and government interference.
Restructuring General Motors: Will the Obama health plan to exempt
retirement and health care benefits for GM workers but tax insurance
companies instead impact the cost of new cars? Foreign car manufacturers in
“right to work” states will compete with domestic cars higher prices
covering additional costs. Will management policies made by labor and
government bureaucrats become political decisions? Thornburg shares his
views on the survival chances of General Motors under these circumstances.
Corporate Ethics & Strategies: The corporate raiders who buy up
healthy companies to “flip” for a fast profit and short term gains has
brought attention to generous executive salaries and bonuses, leveraged
flipping in search of instant gratification. Thornburg discusses the
negative impact when government and labor assume what once was the corporate
role of responsibility for employee welfare, benefits and job security.
How will TARP Impact Our Economic Future? What was accomplished with
the TARP (bail out program) and was the $700 billion U S Treasury program
successful? $18 trillion in U S corporate debt overshadowed the $63 trillion
in credit swap defaults. What does this all mean? A discussion of Lehman
Brothers failure, the practice of stripping interest from principle and
other issues, provide insight to the loss of confidence that must be
Threat to Safeguards of Economic System: Traditional economic levers
for correction in a troubled economy are corporate bankruptcy and real
estate foreclosures. Government policies that encouraged home loans to
unqualified buyers resulted in reduced consumer buying power, then retail
layoffs and eventually lead to a commercial real estate collapse.
Consequences of reduced job growth cannot be solved with political solutions
of the late 70’s such as wage and price controls.
Stimulus Plan to Create Jobs: Proved unsuccessful in the first 9
months. Sustaining salaries and unemployment benefits with stimulus funds
generated demand for a second stimulus plan. Opportunities such as nuclear
power plant construction, Anwar oil drilling that could create jobs and
energy independence are ignored along with the use of “incentives” as a
means to stimulate recovery.
Federal Reserve and Civil Unrest; Debasing of U S Currency: Will
Americans resort to bartering and begging for food? Fed policies of low
interest rates are compared to the 1982 interest rates of 21% that were
unsustainable. Sweden’s experiment with socialism led to an eventual
economic restructuring away from wealth transfer. Hyper inflation in the US
in the 70’s is not expected but civil unrest could result if the lower end
of the economic ladder is forced to live off subsidies as education fails
and to prepare them to care for themselves.